Position Goal

National Banking Corporation (NBC) has an ambitious growth strategy to become a full-service commercial bank. It is driving transformational change across its business with a strong focus on innovation and diversification. The bank aims to deliver a leading-edge customer service experience to more individual and smaller/medium business customers that will positively impact the financial services sector and help drive Papua New Guinea’s economic prosperity.

The Collections Officer is responsible for:

• Recoveries and collections to reduce the bank’s arrears and PAR to an acceptable level. The officer will perform to meet the monthly Recoveries & Collection targets.
• Monitor weekly trends of Arrears & PAR amounts for each loan product. Manage individual loan accounts under loan products such as NBC Employee Loans, Home Loans, Term Loans and other loan accounts.

In addition, the officer will prepare arrears notices, Letters of Demand (LOD), Notice of Default (NOD), customer visitation, compile documentation for legal recovery, repossessing of equipment and collaterals and other recovery tasks to reduce PAR and arrears. The officer will give 100% support in the smooth operations of Asset Recoveries and Collections to meet its targets.

Key Result Areas

The Collections Officer is responsible for managing all the aging accounts shall:

• Be accountable to ensure that the monthly, quarterly and annual Asset Recoveries and Collections targets are achieved which also includes PAR and arrears targets.
• Support the Asset Recoveries and Collections Manager in collections & debt recoveries.
• Provide administrative support such as writing Tender Notices, LOD and NOD to deliver to customers and attend to customer queries.
• Ensure to carry out recoveries & collection duties in compliance to Bank policies and processes.
• Assist in site recoveries, doing independent assessment and provide recommendation to Asset Recoveries and Collections Manager for further management decision.
• Ensure to refer all Individual loans falling under 90 days over for CDB uploads.
• Updating of the PAR & arrears report every month for management use.

Monitoring Loan Arrears

• Keep an active and current register of notices issued.
• Closely monitor payment promised dates and do collection or advice branches to do collections.
• Alert the Asset Recoveries and Collections Manager on accounts reaching more than 31 days.

Policy Compliance

• To comply without fail to establish Bank Recoveries / Collection policies and procedures.
• To apply strong internal control processes and effective monitoring of loan PAR & arrears, keeping them at the target levels.

Skills and abilities

• Strong verbal and written communication skills
• Critical thinking and strong negotiation skills
• Sound business and financial judgement combined with problem solving abilities.
• Significant technical knowledge and expertise in collections & recoveries management within financial services organisation.
• Business and Commercial awareness.
• Strong knowledge of bank risk grading and provisioning systems
• Sound knowledge of the regulatory environment and relevant industry standards.
• Exceptional financial/ analytical skills
• Working knowledge of working with external customers and relationships
• Proficient in Microsoft Applications.
• People Management skills.

Desirable

• Knowledge of banking products and services.
• Commercial Acumen
• Advanced knowledge of Credit Risk Management systems and processes